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Schlumberger (SLB) Inks Twin Agreements with Transocean
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Schlumberger Limited (SLB - Free Report) recently declared that it has inked two accords with Transocean Ltd. (RIG - Free Report) to provide services for pressure control equipment management over a period of ten years. The value of the deals is estimated at more than $350 million.
Per the first agreement, Schlumberger will handle Transocean’s Cameron risers in the Gulf of Mexico. The contact also comprises activities like storage, maintenance, inspection, repair, recertification and data-driven riser management of rigs.
According to the second deal, Schlumberger will give solutions for the maintenance of blowout preventer systems and associated pressure control equipment for nine ultra-deepwater rigs -- capable of drilling in harsh environments -- of Transocean.
Schlumberger believes that the agreements will likely improve the uptime of pressure control equipment. The accords will also lower the total cost of ownership for offshore equipment.
Houston, TX-based Schlumberger is a leading oilfield services company that provides technology, project management and information services to the global oil and gas industry. The recent crude momentum following oil producer’s deal of production cut could make way for more contracts for oilfield services players like Schlumberger.
Despite those positives, the company underperformed the Zacks categorized Oil & Gas-Field Services industry, year to date. During the aforesaid period, Schlumberger gained almost 24% as compared to the improvement of 31% for the broader industry.
As a result, Schlumberger carries a Zacks Rank #3 (Hold).
Some better-ranked players in the energy sector are McDermott International, Inc. , Newfield Exploration Co. and Suncor Energy Inc. (SU - Free Report) . All the companies carry a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
McDermott beat the Zacks Consensus Estimate in each of the last four quarters with an average earnings surprise of 474.04%.
Newfield surpassed the Zacks Consensus Estimate in three of the last four quarters with an average earnings surprise of 754.83%.
Suncor posted an average earnings surprise of 40.55% for the last four quarters.
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Schlumberger (SLB) Inks Twin Agreements with Transocean
Schlumberger Limited (SLB - Free Report) recently declared that it has inked two accords with Transocean Ltd. (RIG - Free Report) to provide services for pressure control equipment management over a period of ten years. The value of the deals is estimated at more than $350 million.
Per the first agreement, Schlumberger will handle Transocean’s Cameron risers in the Gulf of Mexico. The contact also comprises activities like storage, maintenance, inspection, repair, recertification and data-driven riser management of rigs.
According to the second deal, Schlumberger will give solutions for the maintenance of blowout preventer systems and associated pressure control equipment for nine ultra-deepwater rigs -- capable of drilling in harsh environments -- of Transocean.
Schlumberger believes that the agreements will likely improve the uptime of pressure control equipment. The accords will also lower the total cost of ownership for offshore equipment.
Houston, TX-based Schlumberger is a leading oilfield services company that provides technology, project management and information services to the global oil and gas industry. The recent crude momentum following oil producer’s deal of production cut could make way for more contracts for oilfield services players like Schlumberger.
Despite those positives, the company underperformed the Zacks categorized Oil & Gas-Field Services industry, year to date. During the aforesaid period, Schlumberger gained almost 24% as compared to the improvement of 31% for the broader industry.
As a result, Schlumberger carries a Zacks Rank #3 (Hold).
Some better-ranked players in the energy sector are McDermott International, Inc. , Newfield Exploration Co. and Suncor Energy Inc. (SU - Free Report) . All the companies carry a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
McDermott beat the Zacks Consensus Estimate in each of the last four quarters with an average earnings surprise of 474.04%.
Newfield surpassed the Zacks Consensus Estimate in three of the last four quarters with an average earnings surprise of 754.83%.
Suncor posted an average earnings surprise of 40.55% for the last four quarters.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>